Higher drug prices ring in the new year for more than 250 pharmaceuticals

Companies including Bristol-Myers Squibb, Gilead Sciences Inc. and Biogen announced price hikes Wednesday

More pharmaceutical companies increased the list prices of more than 50 drugs in the U.S. on Wednesday, according to a new report.

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In total the prices on more than 250 pharmaceuticals were increased on New Year’s Day, Reuters reported Wednesday, citing 3 Axis Advisors, a health care research firm.

Bristol-Myers Squibb Co., Gilead Sciences Inc. and Biogen Inc. were among the most recent drugmakers that increased their prices, Reuters reported.

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The news organization had reported on Tuesday that 200 drugs -- from companies including Pfizer Inc., GlaxoSmithKline PLC and Sanofi S.A. -- would increase in price in the U.S. on Jan. 1.

Stocks in this Article

BMYBRISTOL-MYERS SQUIBB CO.
$58.25
-0.74 (-1.25%)
GILDGILEAD SCIENCES INC.
$62.25
-0.84 (-1.33%)
BIIBBIOGEN INC.
$270.04
-2.16 (-0.79%)
SNYSANOFI S.A.
$50.79
+0.18 (+0.36%)
PFEPFIZER INC.
$35.76
-0.24 (-0.67%)
GSKGLAXOSMITHKLINE PLC
$37.38
-0.41 (-1.08%)

According to Reuters, most of the price increases were below 10 percent.

The price increases included 10 drugs from Bristol-Myers, including a 6 percent increase on the blood thinner Eliquis and a 1.5 percent increase on Opdivo and Yervoy, which are cancer immunotherapies, Reuters reported.

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Meanwhile, Gilead increased prices on more than 15 pharmaceuticals including two HIV treatments, which were increased less than 5 percent, according to Reuters.

There could be more price increases announced early in the year, the outlet reported.

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